Here’s How to Become a Financial Advisor
A career as a financial advisor can be rewarding and lucrative, but it requires a combination of education, experience, and specialized knowledge.
If you want to become a financial advisor, here are the steps you can take to get started:
- Secure a Sponsorship: Most if not all financial advisor and broker positions require sponsorship with a firm.
If you go the corporate route, they will likely put a noncompete clause in your contract that will prevent you from taking clients if and when you leave the firm.
Financial Marketing Organizations typically have a small fee to secure their sponsorship, but you can keep your book of business as a result. - Obtain any necessary licenses: Depending on the type of financial products you will be selling and the state in which you will be practicing, you may need to obtain one or more licenses when you become a financial advisor.
These may include a Series 7 license, which allows you to sell securities, and a Series 66 license, which allows you to sell both securities and investment advisory services. - Gain experience: Many financial advisor positions require a few years of experience in the industry.
You can gain experience by interning at a financial firm, working as a financial analyst or assistant, or completing a financial advisor training program.
As a part of being sponsored by our firm, we offer free weekly trainings on how to build a financial services business and to become an insurance broker. - Choose a specialization: Many financial advisors choose to specialize in a particular area, such as retirement planning, estate planning, or wealth management.
When you become a financial advisor, specializing can help you stand out to potential clients and build expertise in a particular area. - Build a client base: Building a client base can be challenging, but it is essential for a successful financial advisor career.
Networking, building relationships, and providing excellent customer service can all help you attract new clients. - Stay up to date: Financial advisors must stay up to date on industry developments and regulations to provide the best advice and services to their clients.
Continuing education is often required to maintain licenses and stay current.
By following these steps, you can start your journey to becoming a successful financial advisor.
With hard work and dedication, you can build a rewarding career helping clients achieve their financial goals.
